felszámolót

A felszámolót, often translated as liquidator, is a legal professional appointed in Hungary to manage the winding down of a company that is undergoing liquidation. This process, known as felszámolás, is a formal procedure for dissolving a business that is no longer solvent or has ceased to operate. The felszámolót's primary role is to take control of the company's assets, settle its debts, and distribute any remaining funds to the creditors and, if applicable, the shareholders.

The felszámolót is typically appointed by the court or by the company's creditors. Once appointed, they assume significant responsibilities. This includes inventorying and valuing all company assets, which may involve selling off property, equipment, and intellectual property to generate funds. They are also responsible for identifying all outstanding debts and liabilities and initiating proceedings to collect any money owed to the company. A crucial aspect of their work is the equitable distribution of the liquidated assets among creditors according to legal priorities.

Furthermore, the felszámolót must investigate the company's financial affairs, often looking for any evidence of mismanagement or fraudulent activity that may have contributed to the company's insolvency. They are required to report their findings to the court and other relevant authorities. The entire liquidation process, overseen by the felszámolót, aims to conclude the company's legal existence in an orderly and lawful manner, ensuring that creditors are treated fairly and that legal obligations are met.